Cintas Corporation $CTAS Position Lowered by Dearborn Partners LLC

Key Points

• Dearborn Partners LLC trimmed its Cintas stake by 4.4% in the fourth quarter, selling 6,253 shares and leaving it with 134,359 shares worth about $25.3 million.
• Other institutional activity was mixed, with several investors sharply increasing positions while institutions overall own 63.46% of Cintas.
• Cintas reported quarterly EPS of $1.24, matching estimates, while revenue of $2.84 billion beat expectations; the company also announced a $0.45 quarterly dividend payable June 15.

Dearborn Partners LLC decreased its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 134,359 shares of the business services provider's stock after selling 6,253 shares during the period. Dearborn Partners LLC's holdings in Cintas were worth $25,269,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CTAS. Norges Bank bought a new position in shares of Cintas during the fourth quarter worth about $923,672,000. Two Sigma Investments LP lifted its position in shares of Cintas by 5,641.3% during the third quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider's stock worth $208,682,000 after purchasing an additional 998,963 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Cintas by 2,653.0% during the fourth quarter. SG Americas Securities LLC now owns 1,003,031 shares of the business services provider's stock worth $188,640,000 after purchasing an additional 966,597 shares during the last quarter. Voloridge Investment Management LLC lifted its position in shares of Cintas by 275.2% during the third quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider's stock worth $230,556,000 after purchasing an additional 823,885 shares during the last quarter. Finally, Freestone Grove Partners LP lifted its position in shares of Cintas by 5,341.8% during the third quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider's stock worth $153,352,000 after purchasing an additional 733,380 shares during the last quarter. Institutional investors own 63.46% of the company's stock.

Insider Activity at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the sale, the director owned 22,448 shares in the company, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 14.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on CTAS shares. Stifel Nicolaus reduced their price target on shares of Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a research report on Thursday, March 26th. Weiss Ratings cut shares of Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 1st. UBS Group reaffirmed a "buy" rating on shares of Cintas in a research report on Thursday, March 12th. Citigroup reduced their price target on shares of Cintas from $181.00 to $160.00 and set a "sell" rating on the stock in a research report on Tuesday, March 31st. Finally, Bank of America began coverage on shares of Cintas in a research report on Tuesday, February 17th. They set a "neutral" rating and a $215.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $215.17.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $179.85 on Friday. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The firm's 50-day moving average price is $172.59 and its two-hundred day moving average price is $184.49. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $229.24. The stock has a market capitalization of $71.96 billion, a P/E ratio of 50.81, a P/E/G ratio of 2.86 and a beta of 0.94.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting the consensus estimate of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the business earned $1.13 earnings per share. Cintas's revenue was up 8.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be paid a $0.45 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. Cintas's dividend payout ratio (DPR) is presently 50.85%.

About Cintas

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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